This transcript has been automatically generated and may not be 100% accurate.

... the deal he backed up ... by Fang PTO ... that once again buying and selling companies ... I realized that I am Tech Today Bain's global head of financial sponsors to ... talk about why ... I did a good case can once again ... by the size companies ... well can ... either ... sell half a Credit Nakheel's in output deals to get done ... I think the healing credit market has been ... amazing at times we ask yourselves as we look at how quickly it's rebounded of people arrive during a time machine ... and a while ... I think we've all been heartened by it we're cautiously optimistic that the heater in the credit market has been ... on has been very good and that the credit quality the company's of people buying is substantially ... better than we have the last couple years ... that is bigger and PLC and I have to ... have the high yield market what if anything is it doing to get comfortable with the phrase financing ... I think the that as we look a commited financings include high heeled again ... the other there is a decent amount of discipline in the bank's first in underwriting capital structures that everyone feels comfortable about ... banks have remembered Credit one o one and their underwriting companies that have good free cash flow stories and an ability to repay their debt ... to fundamentally that's the most important thing ... the ... other key ... piece of the puzzle that I think has been good is that banks amid more discipline and ration ... live in very focused on how quickly they can relieve themselves of the rest ... I weren't playing many techniques to do that so that we don't hold risk over the long periods of time that we can ... add it up the market what effect is entering a couple generations ... so the interbank market you'll see that people sell off their their bank exposure very early in the deals ... I've been taking fee has come back as a mechanism that you can ... get a fee to an investor ... and keep them on hold lawyer waiting for the deal to close ... up ... for longest time over the course the last three years people use mezzanine financing which is the ... fully committed and media capitals opposed to abridge that will be taken as high yield ... and more recently as people go back to bridge financing that ... has taken a high yield market ... people I think people will look at both do in high heeled earlier ... and getting high heeled financing in place ... and we may look at things such as escrow bonds for deals that have longer regulatory approval periods ... leverage levels that we can see ... lets him leverage levels crept up from where they were a year ago we were doing deals and three and Italo fours times leverage ... and where we've gone lately is there in several transactions in the five Isakson a half times range ... the companies are being financed in the mid six is a Cubbies of Traurig in free cash flow ... great growth and very high purchase multiples and equity cushion ... so Sheree Seok a flurry of deals coming ... I think deal activity is going to increase dramatically ... our private equity clients have over half a trillion dollars of the unspent capital ... that they need to deploy it will in the coming years ... at the same time the credit markets are offering very attractive terms ... if you take that half a trillion ... when you're five or six times leverage the Group one of these companies the buying power ... is nearly twenty percent in a market cap of North America ... so that potential for new deals is dramatic ... so clean up easily seen ... a deal that the men intended and August this year ... I think of the LBO front ... I do believe that will see ten billion dollar deals I think the banks and repair themselves the discipline on Credit side has been very strong ... I've adapted demanded the buy side is there on the bank market which has come roaring back over the course last year ... investors are returning to buying ... senior secured floating range ... of ... attractive assets ... so I think the bank market is back to high yield market is a set is back ... we'll see people do effective things to mitigate the risk for the banks lay off for us to continue their deals ... of it Id think you'll see ... deals that they can approach double digit enterprise value ... or an excess of that over the course of this year Grupo Kissel writes the Journal that the study was done I am ... going to think he is ... thinking ...